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Search Results 0 to 12 of about 13 (some duplicates have been removed)
Jan 12, 2013 10:00am PST
risks not being able to pay some of its bills. republicans seem to think the debt ceiling is a useful tool to limit how much the government spends, but that is not what the debt ceiling law is supposed to do. it gives the u.s. treasury the flexibility to borrow money to pay the government's bills without going to congress to get approval every single time. it has nothing to do with spe spending or debt control. you might want it to be about spending control like i'd like to be in "people's" list of 50 most beautiful people. wishful thinking doesn't make it happen. they can use the debt ceiling as a hostage like they attempted to use the fiscal cliff as a hostage, to get something else done, something they haven't been able to use do using the normal democratic process because that process is broken. the fiscal cliff deal puts off dealing with mandatory spending cuts until march 1st. republicans fully spend to use the debt creeling to extract concessions from democrats on spending. they'll target things like social security and medicare. democrats will stand in their way. the u.s. will
Jan 12, 2013 6:30am PST
will come in that day. $52 billion in bills come due. if congress doesn't raise the debt ceiling, congress has to decide which of these bills to pay. interest on the debt we already owe, that's $30 billion. irs refunds, about $7 billion. federal salaries, difficult tut military paychecks, medicare, medicaid bills, defense vendors need to be paid. unemployment checks need to get cut. food stamp debit cards need to be refilled. deficit piles up into national debt. i'm joined by senior political columnist of the daily beast and mayaguinness. maya, should the debt ceiling be the place to argue about spending cuts? >> in the past, the debt controlling has been used responsibly, to help us push for making changes to the budget when we're on an unsustainable course. can you kind of think of it as a speed bump. we would hit the debt ceiling, be reminded we're borrowing too much. they would fight about raising it and then they would raise it. what happened last time, i think, was throwing cold water on to the system of how close we got to truly defaulting and the fact that that will lead to economi
FOX News
Jan 12, 2013 1:00am PST
? >> no question. >> bill: probably not. >> debt ceiling. bait coming up. bad thing about this bieber thing is lots of kids. >> that's true. >> bill: they look up to him. it's like jerry matters in the 1960's if he was shooting heroin with wally and beeb. he was beeb. we don't want justin bieber. you have a responsibility to the kids, justin, they buy yourself. don't be using drugs in public. is that reasonable? am i reasonable here. >> completely for a change absolutely. your nails look great by the way. >> bill: this nail fetish you have mcguirk, this is starting to disturb me. in a moment, factor tip of the day. why, why is this baby dancing? the tip 60 seconds away. >> factor tip of the day. should babies dance, in a moment. first some male, champaign, illinois, your talking points summed up the current status of the country. the president is accumulating more power and people are the not paying attention. >> and michael stapleton, min ams. -- minneapolis. and why don't you tell two wars and tax cuts run up the 16 trillion dollar web make, get off the websites, maybe that would be a good thing
Jan 12, 2013 1:00pm PST
, it was mentioned as a way to dodge the debt ceiling fight. there are two options, congress can pay its bills or it can fail to act and put the nation into default. so we are back with our brain trust, we have heather, and rob, and robert costas on that big news that the trillion dollar coin will not be made, hearts at louis vuitton are crushed. so, they do not have to worry about that. so let's get to the one big last question. heather, i will start with you, the big battle in washington the debt ceiling. who will win? >> the democrats are -- and the president are going to have to win this. because too much is at stake. i mean, if we look at what actually is driving the nation's debt. we have two war thars that were on a credit card. we've a medicare part-d that was a huge give away to the pharmaceutical companies. and the bush tax cuts. those are the biggest drivers of the nation's debt and now republicans are saying we spent the money and the commitments but we do not want to pay the bill because we want to try to shut down the government and enforce more spending cuts that will directly p
Jan 12, 2013 9:00am PST
to drive the u.s. economy to the brink of default, to not pay your bills. because we know the debt ceiling is about paying bills on things that were already spent. so i think public opinion is going to be a huge leverage. and i think the business community is going to add to that. >> okay. so i know you brought your crystal ball with you. >> i do. >> well, is this going to be another 11th hour or as i said earlier 11th hour 59 minute drag out fight? or do you think the wiser calmer saner heads are going to prevail this time around? are we going to default on our obligations around february 15th as one study in the "washington post" suggests? >> well, i don't think that we will default. but i wish i could tell you when i get back there next week we're going to raise the debt ceiling and it will all go away. i'm sure it's going to be at the 11th hour. and the reason why i say that is because look what happened when speaker boehner was trying to be re-elected for speaker again. the way his own members of his caucus defected and the turmoil that exists right now within the republican caucus. i
Jan 11, 2013 11:00pm PST
said he will not negotiate on raising the debt ceiling. here's what he said. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. let me repeat. we can't not pay bills that we've already incurred. >> and here's the response he got the next day from republican senator pat toomey of pennsylvania. >> our opportunity here is on the debt ceiling. the president's made it very clear; he doesn't even want to have a discussion about it, because he knows this is where we have leverage. we republicans need to be willing to tolerate a temporary partial government shutdown, which is what that could mean, and insist that we get off the road to greece, because that's the road we're on right now. we only can solve this problem by getting spending under control and restructuring the entitlement programs. there is no tax solution to this. it's a spending solution. and if this president doesn't want to go there, we're going to have to force it and we're going to have to force it over the debt ce
Jan 12, 2013 7:00am PST
. >>> some bloggers are online and they believe they have the answer to the nation's debt ceiling crisis that the treasury should simply mean a $1 trillion platinum coin. keep it in reserve, then use the money to pay bills. others say it is not realistic as far as being approached to the solution. you may have seen her and her sister marianne around becoming local staples after moving to the bay area from michigan more than four decades ago. they are unmistakable. that's after they fell ill in july. vivian brown would have turned 86 later this month. >>> and brushing your pet's teeth may seem like a difficult task. up next why it is important, much more important than what you think. >>> a surprise for the fast food drivers. no driver to be found. we'll be right back. >>> we've got a forecast that will bring a chill to your heart and to have everything else quite frankly with a freeze warning that will be posted to the bay area. it will be cold this morning and cold tonight. but the daytime, before you get a beautiful saturday. we'll have the forecast
FOX News
Jan 12, 2013 1:00pm PST
the debt ceiling, people are very cautious, they should be. i think this may be a bill d.c. wants to make the person that is on the fencing out and go through the process of buying a home. all i'm suggesting make sure you are prepared and you have the funds in place to do that. >> jamie: understood. thanks so much kyle. >> gregg: chuck hagel is under fire from so many sides as he gets ready for a tough confirmation battle. how much of the criticism is fair? how much is missed? we'll take a closer look with a aaron david miller. >> jamie: we are waiting to hear is lance armstrong prepared to admit to doping. what they are saying about the interviewer with oprah winfrey. >> i try not to let it bother me and keep rolling right on. i know what i know and i know what i did. that is not going to change. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male an
FOX News
Jan 12, 2013 3:00pm PST
congress take the steps necessary to raise the debt ceiling. >> arthel: we're going to get to the interest of the president later. , but this is the interest of the people. the bill is up come february. we need more money to pay for the bill. so richard, let me ask you if you think this is good or bad for the good of the country, and would it matter if the shoe were on the other foot? >> well, there is good news. today we've actual will he had two ideas taken off the table. we've already heard the treasury department and the federal reserve earlier this afternoon say this notion about this platinum coin, which was a little batty is now not being considered. and let's agree just among the three of us that this whole idea of using the 14th amendment, which remember action bill clinton said he would have considered doing back in to 2011, that's something that the president has said he's not going to do. so i understand why these senators have urged him to do it because they would rather not go through the fight. i get that. >> arthel: the president also said that he is not going to have any s
Jan 11, 2013 7:00pm EST
by the president has already passed bills which authorize the debt that we've already created. the question is do we pay the debt that we've already racked up. that's what the debt ceiling is all about. and the irony is the 14th amendment argument actually could work both ways. arguably the debt ceiling itself is unconstitutional. because it questions the validity of the national debt. the debt that congress has already racked up. >> no. it questions the appropriateness of raising the debt. that's the issue. jimmy, i want to go here. is there anybody on the republican side who is saying we want to default on the debt? is there anybody on the republican side that says we're not going to raise the debt ceiling? >> no. nobody thinks that's a good idea to default on the debt. going past the debt ceiling i think that's not a great idea. but theoretically there's enough money coming in to pay the debt. you could pay people getting social security. that's really not the point. the point is whether there is at some point are there -- i think there should be actual spending cuts. listen. cut spending toda
Search Results 0 to 12 of about 13 (some duplicates have been removed)